Strategic Intelligence for CFOs, Finance Directors, Controllers and Treasurers in Asia |
2012, May 18
2012, May 18 Bonus expectations in Greater China are high: over half (53%) of surveyed finance professionals expect their bonus in 2011 will be higher or the same in comparison to the bonus they earned in 2010.
Looking further ahead, however, confidence seems to ebb: over four in 10 (44%) respondents predict bonuses will decrease over the next three years, finds eFinancialCareers' Bonus Expectations Survey.
Over eight in 10 (83%) finance professionals in Greater China expect to receive a bonus this year.
Nearly a third (31%) anticipate an increase in comparison to the previous year. A similar proportion (30%) believe their bonus will be less, while just over two in 10 (22%) think it will be the same as last year. The remaining 17% don’t expect to receive a bonus at all this year.
In comparison to the region, finance professionals in Greater China appear slightly more optimistic. In Singapore, a third of respondents (33%) take a more conservative view and expect their bonus to decrease this year – this compares to 30% in both, Greater China and Australia.In terms of compensation, nearly three quarters of respondents (72%) had a change in their base salary in the past year. Out of those, nearly nine in 10 (87%) received an increase in salary.
Bleak Outlook for Bonuses
Asked to make a prediction about bonuses sizes over the next three years, 44% say they expect bonuses to decrease in the future, 26% anticipate bonuses to stay the same, and only 16% predict that bonuses will increase.
Over three quarters (76%) of the respondents cited market conditions as the key factor that concerns them in relation to their bonus, believing that the tumultuous market will potentially lead to a downward influence on total compensation.
“Even when market conditions are tough financial institutions must consider how to reward their best talent in order to retain them – the payment of bonuses is an important part of that process," says George McFerran, Head of Asia Pacific, eFinancialCareers.
"Equally professionals are aware that bonuses are based on performance, their sentiment on future bonuses is a good indicator of current market confidence.”
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